A growing body of literature finds that firm-level carbon emissions are associated with a number of adverse outcomes such as higher firm risk, lower firm value, higher option premiums to cover downside tail risk, and declines in future profitability. Given these adverse effects, this paper...

This ambitious book presents a conceptual framework for an institutional approach to economic change and economic transformation. It sheds important light on two basic concepts: social complexity and interactive governance. The first part of the book develops the theoretical foundations for...